financial institutions

The landscape of development finance is changing rapidly. Traditionally, international financial flows moved from developed countries to developing countries. In the last decade, however, major emerging economies such as China and Brazil have fueled a growing trend of South-South development flows by increasingly channeling their overseas investments to other developing countries.

The World Bank has begun an effort to strengthen its environmental and social safeguards. But how relevant will these safeguards be after the Bank’s parallel proposals to “modernize” the way it does business?